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Network 18 Q3 FY16 consolidated operating revenues up by 8.85% to Rs 905.59 crore

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Network 18 Q3 FY16 consolidated operating revenues up by 8.85% to Rs 905.59 crore

Network18 has reported that the company’s income from operations grew by 8.85 per cent to Rs 905.59 crore for the quarter ended December 30, 2015 (Q3-FY16), as against Rs 831.9 crore in the same quarter last fiscal.

Revenue from media operations grew by 7.85 per cent at Rs 895.02 crore while revenue from film production and distribution declined by 11.92 per cent to Rs 10.56 crore.

Network18’s employee benefit expense increased 11.3 per cent YOY in Q3-2016 to Rs 159.3 crore (17.6 per cent of TIO) as compared to Rs 143.1 crore (17.2 per cent of TIO), but declined two per cent from the Rs 162.5 crore (20.3 per cent of TIO.

The consolidated net loss narrowed down to Rs 2.41 crore for the third quarter ended December 31, on the account of higher income from media operations.

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